SLANG Worldwide Inc. (CNSX:SLNG) signed a definitive merger agreement to acquire High Fidelity, Inc. for $11.1 million on June 25, 2021. At the closing of the Merger, SLANG will pay $12 million by issuing an aggregate of 31,578,947 restricted voting shares in the capital of SLANG and paying $3 million in cash. At the 18-month anniversary of the closing of the Merger, SLANG will pay $0.25 million by issuing 657,894 SLANG Shares and paying $2 million in cash. Pursuant to the Merger Agreement, SLANG may issue additional SLANG Shares upon the achievement of certain performance milestones. Shayne Lynn, President of High Fidelity, Inc. will join SLANGs leadership team and is expected to join the Companys board of directors upon closing of the Merger. Completion of the Merger remains subject to the satisfaction or waiver of all conditions precedent in the Merger Agreement, including the receipt of the approval of the State of Vermonts Department of Public Safety and any other government authority whose approval is required. Closing of the Merger is expected to occur in Q3 2021. Merger delivers an accretive transaction on prospective Adjusted EBITDA basis. Arnold & Porter Kaye Scholer LLP acted as a legal advisor to SLANG Worldwide Inc., William A. Mason of Gravel and Shea and Erica Rice of Foley Hoag LLP acted as a legal advisor to High Fidelity, Inc.